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Honda Pilot Lease Questions

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Comments

  • jayriderjayrider Member Posts: 3,602
    He may be helping people buy cars that don't want to do the work themselves. There are a number of fee based agents that will do that and can save you more than the fee they charge.
  • hollywood53hollywood53 Member Posts: 44
    No I do not charge a fee, sometimes you just have to give back and be thankful for what you have. I do this for local people that need some help or dont like the whole process, and in todays economic times if I can save people a couple of dollars a month it is reward enough. I am not looking to help those whos only interest is to beat a dealer over the head but to help those that need to be educated about there deal.

    I have helped numerous people on the volvo xc90 and xc 60 boards already as to availabilty and programs, have provided MF, residuals, rebates and incentives etc.

    Coming from an industry that sometimes doesnt have the best reputaion there are dealers that do business the right way and those that take advantageof people.

    If I see someone posting a deal that I feel is not equitable, I will let them know and try to help, keep in mind that like everything else in life it must be balanced. Deals can tilt both ways sometimes a little to the dealer sometimes a little to the consumer and that is OK but it should never be totally tilted in either direction, if they all tilted in the consumers benefit than someday that dealer may not be there to provide service.
  • jayriderjayrider Member Posts: 3,602
    There are so many folks gaga to buy or lease -upside down with marginal credit issues on these forums that you should stay busy forever. :)
  • layer3switchlayer3switch Member Posts: 14
    Folks,

    My sister is currently leasing a Honda Pilot, and wishes to lease a 2010 EX-L model. My understanding is that she has been approved by Honda for the lease. She went to a local dealer here in NJ, that pretty much gave her the run-around. I would sure appreciate some advice... Any ideas on what the monthly payment should be on a 36 month or greater lease for a Pilot EX-L? Any advice on a dealer to work with in NJ (she is outside of Philly) She is looking for a payment around $330-370 per month with nothing down.

    Thanks very much for any assistance!
  • gman1957gman1957 Member Posts: 64
    Hey I am in the same position as your sister. Looking for the same vehicle with the same payments. With zero down. The payments are averaging around the high 600's and the low 700's its crazy. I must have stopped in several dealerships in the NYC Metro area including New Jersey. The song remains the same. Its a lot different than it was 3 years ago. don't know if and when will they ever drop. Let me know if she found a good deal and good luck..........
  • gman1957gman1957 Member Posts: 64
    I have a lease right now ending in April 2010.( 07 Honda Pilot exl with RES). Buyout is 19,200. Looking to do the same vehicle in 2010.The vehicle has only 22,600 miles way under the 36.The dealerships want my vehicle but I won't give in for nothing in returned.Any suggestions how to get close to my payment which is right now 327.00
    They want at least 5000.00 total including taxes and fees to get in the 420 range. To much for me. I might as well stay or extend for a short time or maybe just buy the vehicle.Any suggestions... Thanks......
  • bigpav7bigpav7 Member Posts: 9
    I'm actually also shopping for an EX 4WD and will turn in an EXL 4WD at the end of the month/year. THe deals are definitely much worse than before. I've been offered high $490s with the first payment and DMV fees out of pocket. My current payment is $395, which would mean that I'd be paying $100 more for a vehicle that's not nearly as nice. I'm thinking of waiting until the last day of the year and giving it another try - the dealers may be willing to give in a little more then. I cant even think of another 3-row SUV that I like out there that can be had for less.
  • gman1957gman1957 Member Posts: 64
    What was you out of pocket amount 3 yrs ago? Going through the same ordeal.
  • hollywood53hollywood53 Member Posts: 44
    do not expect much more than you are seeing today, you dont list specifics of your deal but your numbers are in line, and you are correct almost $100 more than lets say threee years ago and this is not limited to just hondas but almost all the manufacturers.

    Also you may encounter no availability by the end of December inventory levels on the Pilot are extremly tight.
  • bigpav7bigpav7 Member Posts: 9
    3 years ago I paid the first month, the bank fee and the DMV fees out of pocket - around 1200 if i can remember correctly. This time around all i want to put down is the first month adn the DMV fees. Even for the LX 4WD model I can't get less than $470s - which is ridiculous. I'm actually thinking of going with the Odyssey now. I really want to stay with Honda due to their $1500 wear and tear allowance, which makes returning the car 3 years later so much more worry-free. Than again, i dont think there is any other 3-row SUV out there that can be had for less than the Pilot. Times are really bad right now.
  • bigpav7bigpav7 Member Posts: 9
    I actually spoke with a leasing company that got me the lease 3 years ago and they advised to extend the current lease for a couple of months, thinking that the deals should get better then.
  • marosenmarosen Member Posts: 6
    MSRP: 28605
    Initial Cap Cost: 22884.71
    LEV %: 54.00%
    Lease Money Factor: 0.00197
    Cash Down: 742
    Base Monthly Payment: 299.81

    Translates to $299/month with $741 due ($318 1st month payment, $298 doc fee, and $125 title and plate)

    36 month lease with 36k miles.

    GOOD DEAL?????? Need to give answer by the morning. Any thoughts appreciated.
  • johnnypartjohnnypart Member Posts: 2
    Car Man,
    What is a fair lease deal on 36 month rate, no money down down for 2010 Pilot Touring NAV & RES in the Long Island - New York area?
    Also, what is the fair rate to purchae the same, with zero down, 36 month, financed through the dealer?
    Thanx.....
  • caprice2caprice2 Member Posts: 34
    Hi marosen,
    The deal looks very good. where are you getting this deal, I am looking for similar deal. Cant see an dealer quote even 25k invoice.
    :)
    Thx,
  • rovidanarovidana Member Posts: 7
    Could someone indicate what a fair quote would be for 2010 Honda Pilot EX with $3,000 total out-of-pocket for 36 months, 12k m per year? Thanks!
  • ccnj1ccnj1 Member Posts: 11
    That is about what I put out of pocket, but I have 15,000 a yr for 3 yrs. I am paying $387.00 for the 4WD LX.
  • bigpav7bigpav7 Member Posts: 9
    Just wanted to give you guys an update. After several weeks of searching and numerous dealers in the tri-state area (NY), I've given up on Honda and decided to to get a HIghlander. Granted, I would rather be driving a Pilot, but for almost $100 less per month for an equally or better equipped car, I'll just suck it up. Good luck to everyone still in the market for a Pilot!
  • gman1957gman1957 Member Posts: 64
    What kind of deal did you get with Toyota?
  • bigpav7bigpav7 Member Posts: 9
    360 a month with nothing due at signing - everything rolled into the payments. Base Highlander v6, 4WD
  • porsche911c4sporsche911c4s Member Posts: 99
    What were the terms of the lease (months/mileage) for the highlander? I've also been looking for a decent deal on the pilot with no dice. Which dealership? Thanks!
  • gman1957gman1957 Member Posts: 64
    Anybody hear or read about Honda new promotions for 2010?
  • neeklopneeklop Member Posts: 2
    I have a quote on a 2010 Honda Pilot EXL 4WD of $0 down and $549. per month.

    To be honest I'm having difficulty determining if this is a good deal or not.
    Any advice or suggestions would be greatly appreciated.

    Thanks.
  • gman1957gman1957 Member Posts: 64
    What is your residual?
  • fafafooey3fafafooey3 Member Posts: 1
    Hi Hollywood. I am heartened that you're looking to help people. =) This is such a confusing business to us that are not in it! We are not looking to take food out of a salesperson's mouth, but don't want to get ripped off either - money's too tight to be giving it away!
    I have an '07 Pilot EXL-RES with 20K mi./ lease ending June 10 (paying 495/mo)
    Want 2010 Pilot Touring. Have gotten quotes $585- 690 w/ $3k down
    Got quote for 512 on Pillot EXL-DVD, but would need to install BlueTooth in that one

    Thanks!! =)
  • mixenmixen Member Posts: 11
    I am coming out of a lease on a 07 Pilot EXL 4WD and have been looking for a similar $0 down lease on a 2010. My old payment was $390 per month with a total of about $600 out of pocket, so I am appalled at the current lease prices. The $549 is on par with what I have been seeing, but my answer to your question would have to be -- that is a terrible deal. Although I am extremely satisfied with my Honda, I have been looking elsewhere because I am not willing to pay over $500 per month for a Pilot lease. I just test drove the Hyundai Veracruz Limited yesterday. I have always avoided Hyundai because of what I perceived to be image and quality problems, but I was quite impressed with not only the acceleration (10 more hp than Pilot) and the quietness of the engine and ride, but with all of the extras/gadgets that you do not even get in the Pilot Ex-L such as keyless ignition, memory seats, memory mirrors, memory tilt/telescoping, power liftgate, heated passenger mirror, reverse tilt mirrors,signal mirrors, rear parking sensors, Infinity audio system, etc. Seating capacity (8 vs. 7) is better on the Pilot, as is luggage capacity. Incredibly, the VeraCruz does not come with floor mats and they bang you another $125 for that. But with all the extras, I am seriously considering it.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi johnnypart. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot Touring 4WD with Navigation, RES, and 15,000 miles per year are .00175 and 48%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Shop around for the lowest possible selling price on the Pilot that you want and then have the dealer that you decide to go with use the above lease program to calculate your truck's payment. If I was in the market for this truck right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice. You can look up the invoice price of the exact truck that you want over in the New Vehicle Pricing section of Edmunds.com.

    If you decide to finance rather than lease your new Pilot, you can do so through Honda Finance at 2.9% for five years.

    Car_man
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  • neeklopneeklop Member Posts: 2
    I've been told by a couple of dealers that the residual rate is 53% or $19,162 and that the money factor is .00175
  • albert72albert72 Member Posts: 200
    Hi Car Man,

    The Pilot is on my short list and I was wondering if I can trouble you for the MF and residual for the following Pilot:

    EX-L (No Nav or RES). Just the standard EX-L.
    I will be leasing it for 3 years with 36K miles.

    Also - I am interested in both the Front Wheel drive and the 4WD units.

    Do you know if there are any additional discounts / Honda loyalty programs? I am leasing a Honda now and my spouse has an Acura that she leases.

    Thanks for sharing your knowledge.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, albert72. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot EX-L 4WD without Nav or RES with 12,000 miles per year are .00175 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The money factor is exactly the same for the 2WD version of this truck, but its residual value is 1% lower.

    Unfortunately, Honda is not currently providing any cash incentives on the '10 Pilot right now, not even for loyal customers.

    Car_man
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  • cpamancpaman Member Posts: 58
    I just came back from a dealer in CT who is quoting me a lease terms for the LX of .0021 and 55%. Is this consistent which what you know?
  • jbake22jbake22 Member Posts: 2
    We are looking to lease a 2010 Pilot, EXL, 4WD with RES. I have been quoted prices ranging from $33,260 to $33,550. Just wondering if those prices are good?

    I am also looking for any insight on leasing. We were quoted a monthly lease of $642 by one dealer, which seems high to me. They did not disclose the other lease terms that we used to calculate that price.

    Any insight would be greatly appreciated. Thanks!
  • porsche911c4sporsche911c4s Member Posts: 99
    Hi Car man,

    I see that Honda is running a special on the 2010 LX 2wd
    $349.00 per month for 36 months. $2,699.00 total due at signing.
    The special runs from 1/5/2010 - 3/1/2010.

    I'm interested in an EX 4WD.

    Since the lease special on the LX 2WD runs from 1/5/2010 - 3/1/2010, is it correct for me to assume that the money factor/residual value on the LX 2WD, and possibly the rest of the Pilot line will not change until the first tuesday of the month in March? Meaning that the February residual/money factor will be the same as January?

    I searched back in the forums and read posts from January and February 2009 and it appears that the figures were the same for both months. I'm wondering if history will repeat itself.

    I'm torn between the Highlander, Pilot and Forester. Had a few pilots before and I'm a fan, I'd just like to avoid overpaying. Or, I'd hate to get another vehicle only to see the Pilot numbers drop in the upcoming months.

    Thanks!
  • winterhousewinterhouse Member Posts: 1
    Just got my 2010 Pilot EXL, 4WD today in the Midwest. $1600 down (my choice) and $449 mo. payments with a 3 year lease at 15,000 miles per year.
  • porsche911c4sporsche911c4s Member Posts: 99
    Looks very good! Was it 1600 due at signing or 1600 down? Also, if you don't mind, what was the negotiated price?

    Thank you!
  • Hoop1234Hoop1234 Member Posts: 18
    What was your OTD cost? MSRP? Negotiated sales price?
  • hondaman15hondaman15 Member Posts: 5
    Does this sound reasonable?

    2010 Honda Pilot EXL
    36 month Lease, 15k miles per year
    $31,500.00 final selling price
    $0 down
    Sign and drive with 1st months payment
    $425.00 per month including tax
  • gman1957gman1957 Member Posts: 64
    Looks pretty good. What is your residual? What state?
  • porsche911c4sporsche911c4s Member Posts: 99
    Sounds like a 2wd EX-L based on the selling price.

    Excellent deal - I agree. Could you provide the dealership? Thanks!
  • albert72albert72 Member Posts: 200
    Based on what I am seeing, thats a very good price. Is the dealer ordering it for you? I was told it is very rare to find a 2WD Pilot on the lot and special ordering them is common.

    Went out looking today and had a dealer quote me on a '10 Pilot EXL 4WD (No RES) 3 yr 36k at $599 including tax as a sign & drive deal with no other out of pocket. Way too expensive.

    Hondaman, are you able to say what dealership offered you this?
  • needtoknow4needtoknow4 Member Posts: 1
    Hey Carman, love your posts, and hoping for some assistance.

    I'm a well informed consumer who felt very comfortable negotiating a lease. Managed to work lease below invoice with no hidden dealer fees etc.

    All of this was done with the assumption that they would go to a nearby dealer and have to get the color of car that I wanted. They identified the dealer and confirmed the car was available.
    In closing, the dealer filled out a "purchase agreement" -a standard dealership carbon copied form and insisted that this would need to be signed in order for them to go and get the vehicle. The sale price was our agreed upon value, but the specifics on the car were missing. Simply the make and model of the car they were looking to locate, but no vin number.
    I explained I was not willing to sign a "purchase agreement" and requested that a "lease agreement" be filled out.

    Their response was that they could not fill out a lease agreement because they did not have a vin number , and the "purchase agreement" was only a promise that once they obtained the vehicle I would come back and complete the lease transaction. (***side note that the 'purchase agreement' originally had a sale price of 2k higher than the agreed upon sale price, but they corrected it when I pointed it out.)((***they also crossed out 'purchase agreement" and wrote in "lease agreement"
    I suggested they contact the dealership that they mentioned to me earlier (the one that had the vehicle on their lot) and confirm the swap, get the vin. Dealer responded that they did not do swaps on Saturday and they were a half hour from closing.
    Carman, I was at the dealer for about 4 hours. I negotiated a brass tacks lease agreement with the purchase price well below invoice and no dealer addins or hidden fees (minus the aquisition fee). I sat there and calculated long hand my lease payments and waited for them to "figure out" why their computer was coming up with a higher number. All of this based on the premise that they would obtain x vehicle from x dealer. They disclosed to me the dealer name, etc. There was no question of what vehicle we were negotiating on.

    Questions:
    -Does signing a "purchase agreement" make sense in this scenario? Is this typical or do you think they were trying to trick me into purchasing for a higher price because they were upset with the way the lease negotiation went? (My purchase price was a couple hundred below invoice, and I worked them out of all dealer add ins) There was NO profit, no addins. just used a basic lease calc.
    -Would a dealer not perform car swaps on a Saturday? I asked them why a Saturday was different than any other day. They said because it was their busiest day. I said "so all the more reason to perform swaps and close the deals"

    The transaction ended with me explaining that I did not feel comfortable signing a purchase agreement when I was leasing , let alone a purchase agreement lacking a vin number.

    I left and advised them to call me on Monday when they had the vin and I would come back in and sign the lease papers on the same numbers we agreed upon.

    Your thoughts?
  • hondaman15hondaman15 Member Posts: 5
    Hello Carman,

    I am ready to purchase my 2007 Pilot EXL (standard, no RES or Navi) at Lease end in April. It is in great condition with 45k miles on it. I can purchase it at my residual of $15,900. Is this a good price considering the milage on 2007 model? Also, Im being told that I need to pay a dealer fee to execute the purhcase of the vehicle at Lease end. I know I need to pay taxes and title/registration. Are there any other fee's they won't tell me that I need to be aware of? I really enjoy the vehicle and would like to finance the rest for 48 or 60 months. Your input is welcome....just trying to be prepared....

    Thank you in advance...
  • woodkinswoodkins Member Posts: 5
    Wanted to find out if this is a fair deal...We are in Long Island (Suffolk Cty) NY. 2010 Pilot EX-L (no Nav). 36 month lease/12K mi yr. No money down, taxes rolled into payments (we would pay 1st mth payment & dmv reg fees up front) $550 per month.
  • td_inctd_inc Member Posts: 55
    Reasonable?? I've been dying for an offer like that. We looked around for awhile and it was crazy prices.
    My infiniti m35 is about 10-15k more expensive and they want more 50-100 more a month then i pay for that. what is honda smoking?

    if i could pick up the pilot for 425 i'd sign tomorrow.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey cpaman. The residual value looks good, but money factor that you were quoted is too high. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor for a 36 month lease of a 2010 Pilot LX 4WD is .00175 for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi porsche911c4s. Your assumption is correct. Unless it makes an unscheduled change, Honda's January lease program for all Pilot trim levels will run through March 1st.

    Of the three vehicles that you mentioned, to me the Forester is far and away the best value. Having said that, it's not nearly as large as say the Pilot. It all depends upon what you need. I would have said that the Highlander is a nice middle ground between the Forester and the Pilot, but obviously Toyota can't even sell them right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks needtoknow4 :blush: . There's nothing wrong with signing a purchase agreement. The vehicle technically isn't yours until you physically drive off the lot in it, and the dealer cannot force you to take delivery if you don't want to. The dealer is just trying to make you feel committed to the deal and rightfully so if they are going out of their way to swap for a specific unit for you.

    I wouldn't be surprised if the dealer was indeed trying to trick you into paying more for your vehicle, but you caught them so don't worry about it. Just make sure to check all of the paperwork carefully before you take delivery.

    I can see a dealer not wanting to spend time swapping for vehicles on Saturday when it probably can close a ton of non-swap deals then.

    It's now a couple of days later. Do you have an update for us?

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello hondaman15. In order to determine whether you should purchase your Pilot at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your truck's purchase option price on your lease contract, you should place a call to Honda Finance just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.

    As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    If your vehicle's purchase price is less than or similar to its current value on the open market then you may want to consider buying it. If not, walk away.

    Car_man
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  • caprice2caprice2 Member Posts: 34
    Hi Car_man
    I am looking to Lease a PILOT LX 2WD .MSRP 28,605.
    Earlier dealer was offering that for 25k for sale.
    Can you please tell me how much would it be Lease (36 mths with 0 down )per month with same pricing.

    Appreciate your help
    Capri :)
  • upton0077upton0077 Member Posts: 1
    Hello. I will be finishing my 3 year lease on a Honda Pilot next month. I would owe about $15,000 if I wanted to buy this vehicle. I have an estimated value of about $18,000 on it currently. If I just turn my Pilot in at the end of the lease and the value is higher than what is owed to purchase, am I correct that I will basically lose that value. Any recommendations on what I should do. I plan to lease another 3rd row SUV. A pilot is possible if I can get the rate that I am looking for. My current lease was $282/month with about $3000 down. I believe this was a great rate. Thanks for any help or suggestions.

    Upton0077
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi caprice2. Let's work up a lease payment on this truck for you and see what we come up with. According to my calculations, if you were to lease a 2010 Honda Pilot LX 2WD that has an MSRP of $28,605 and a selling price of $25,000 though Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $352.

    Car_man
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